President Donald Trump said on Monday that China is ready to come back to the negotiating table and the two countries will start talking very seriously.Politicsread more
The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread more
As Washington and Beijing continue to up the ante in their protracted trade fight, the potential of a recession in the U.S. is now "the biggest concern," according to Standard...US Economyread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
Swiss bank UBS saw 15.4 percent growth in its wealth management business for 2013, firmly securing its position as world leader in the sector, with close to $2 trillion of assets under management.
If growth continues at its current rate, the bank – which currently runs $1.96 trillion - will become the first wealth manager to hit the $2 trillion "milestone", according to wealth data firm Scorpio Partnership. This would mark a "transition in the scale of global wealth management", Scorpio added.
Read MoreEuropean bank CEO pay surges in 2013
UBS beat expectations with its first quarter net profit, which came in at 1.05 billion Swiss francs ($1.2 billion), as the bank continues to focus on building out its wealth management and private banking business while trimming back its investment bank.
The world's top 25 private banks by assets experienced average growth of 11.3 percent in 2013. Together, the firms manage over 78 percent of the wealth management industry's assets, up 1 percent from last year, Scorpio said.
Bank of America Merrill Lynch (BofA ML) maintained second position on the Global Private Banking Benchmark, as assets under management (AUM) grew 12.5 percent last year to $1.86 trillion. Morgan Stanley is ranked third, with 17.5 percent growth in AUM of to $1.45 trillion.
BofA ML's decision to sell its international wealth management arm in 2012 to Julius Baer, which helped to boost the Swiss private bank's assets by 40 percent, is just one example of U.S. firms choosing to focus on their home market, Scorpio said.
"This year's results highlight major structural changes taking place in global wealth management," Seb Dovey, managing partner of Scorpio partnership, said in a statement. "The findings demonstrate that the international wealth management secotr is acclimatising to a 'new normal'. Strong growth figures are commonplace, but so too are rising costs as the recovery is accompanied by increased regulation."
—By CNBC's Jenny Cosgrave: Follow her on Twitter @jenny_cosgrave